Clover Health Investments (NASDAQ:CLOV) Stock Price Up 6.4%

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) shares rose 6.4% during trading on Thursday . The company traded as high as $2.84 and last traded at $2.82. Approximately 2,511,872 shares changed hands during trading, a decline of 69% from the average daily volume of 8,004,293 shares. The stock had previously closed at $2.65.

Clover Health Investments Trading Up 4.5 %

The business's fifty day simple moving average is $2.20 and its 200 day simple moving average is $1.35. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -8.15 and a beta of 2.12.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. The firm had revenue of $356.26 million during the quarter, compared to analyst estimates of $338.70 million. During the same quarter in the previous year, the business earned ($0.06) EPS. As a group, research analysts anticipate that Clover Health Investments, Corp. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Clover Health Investments by 4.6% in the 2nd quarter. AQR Capital Management LLC now owns 729,706 shares of the company's stock valued at $898,000 after buying an additional 32,288 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Clover Health Investments by 220.7% in the 2nd quarter. Squarepoint Ops LLC now owns 130,352 shares of the company's stock valued at $160,000 after buying an additional 238,329 shares during the period. Marshall Wace LLP acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at $55,000. Canada Pension Plan Investment Board acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at $203,000. Finally, XTX Topco Ltd acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at $932,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Clover Health Investments Company Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.